During these challenging times of COVID-19, staying in the safety of home is an alternative that so many of our older loved ones are seeking. While Long Term Care Insurance (LTCI) can be applied towards assisted living, many people don’t know that it can also apply towards in-home care if provided by a licensed agency.
While you’ve faithfully paid your LTCI premiums every year, it may be 20 years or more since you reviewed what your policy can provide. As care needs begin to surface, many people aren’t using the benefits they’ve paid for or understand there are alternatives to assisted living they can utilize with LTCI. Let’s review some general guidelines that apply to most policies, and some facts that may surprise you.
There are typically two circumstances when you can consider starting LTCI. The first is when you need help with at least two Activities of Daily Living (ADL’s). Those are the everyday basic activities of bathing, dressing, toileting or incontinence, transferring and eating. The second is when there is cognitive impairment. This could be due to conditions like dementia, Alzheimer’s or Parkinson’s. While physical assistance may not be the main concern here, help is needed with reminders and cues to just get through each day. Your LTCI plan will have forms that you can provide to your doctor who will write an order confirming the need for assistance. Using your LTCI policy does not affect Medicare.
Here are some important facts. Your policy has benefit amounts, maximums and terms you need to know. There is typically an elimination period of 30, 60 or 90 days depending on the policy you chose. The elimination period on a long-term care policy works like a deductible: It’s the number of days you pay for care before the policy pays out. This may, however, be waived for in-home care and reimbursement could start immediately. Call your provider if you have questions about these details.
It’s important to always stay current with your premiums. An added benefit is that once your policy is activated, you won’t pay premiums during the time you’re receiving care (the benefit).
When you consider in-home care, you need to make sure you are working with professionals who understand and can help you navigate the use of your LTCI plan. At Home Helpers we handle all the ongoing paperwork and filings that are needed as you use your LTCI policy. We can also join you in a call to your LTCI provider to help determine what your policy provides.
The companionship and assistance a carefully matched, heart centered Home Helpers caregiver provides helps build and boost self-confidence. Well trained in infection control, our caregivers wear protective gear like face masks and gloves when appropriate, can take frequent temperature readings, check vital signs and prompt frequent hand washing. Our skilled Caregivers can assist with all personal care, help around the house, provide transportation and specialized care for Alzheimer’s, Parkinson’s, etc.
We’re here to help. For a free consultation and personalized plan contact Home Helpers of North Atlanta today at (678) 430-8511.